Employers and members annually contribute millions of pounds to DC pension arrangements. However, explaining the value of these benefits and how and where members need to engage can be a difficult communication challenge. More
The Pensions Regulator (tPR) recently identified that a common issue with DC plans is that many do not have a communications plan nor adopt a process for regular review to identify how successful their communications have been. To be effective, pensions’ communications need to be engaging.
Communications should address members’ lack of understanding of complex DC matters, but not be so detailed that they disengage members. Above all, communications need to be appropriate; no two audiences are the same and communication plans should be prepared with this in mind. More
Communications can take many forms; including but not limited to, booklets, newsletters, benefits statements, websites, webcasts, webinars, modellers and presentations. Where appropriate, we work with clients to personalise and tailor communications. Our research shows that this dramatically improves education, understanding and engagement. It also increases members’ appreciation of the value of benefits, achieving the sponsoring employer’s objective of return on investment.